August 4, 2020

1,000,000 words/month via VoxRec

Steve @steveo

While still in beta, VoxRec is now transcribing 1M words for hundreds of users monthly. And has for the first time reached not only $1k MRR but also become profitable. Yay!

While a lot has happened in the months leading up to this, it never felt it was enough to share - I’ll write about this and my Antagonist Mind in a separate post here on IH.

This milestone is important because despite great organic growth followed by a massive drop in acquisition (still unexplained, but probably covid+work from home+summer holidays), the experiments and optimisations in positioning, pricing, conversion funnels etc. are working.

  • $1k in MRR
  • 1 Million words transcribed per month (down from 2.5M)
  • 700 MAU (down from 1k)
  • “It’s still just a beta” :)
  1. 3

    Congrats on hitting the $1000 MRR milestone!

  2. 2

    Great news 👏🏻 Go VoxRec!

  3. 2

    Well done! These are great stats - keep going!

  4. 1

    Well done @steveo! Could you share how you went about finding and on-boarding people on to your beta?

    1. 1

      That's a longer story.. It was NOT "I posted to my XX thousands of followers and it was overnight success" :) I'll write a post about it as I think there was a journey with some insights.

      1. 1

        I figured that much! I am a few weeks away from launch a pre-alpha product so, I would be very happy to hear about what you've done. Please send me a DM with link to post once you've made it.

          1. 1

            Thanks a lot! I am looking forward to read this one.

  5. 1

    Congrats, Steve. How long you've been in this business?

    1. 3

      Thanks, Alex. Depends on what you mean by "this" business :-) If your question is about VoxRec, it went live in December 2019, but it was an experiment long before, e.g. Kickstarter, or experiment with selling it before it existed aka validation of hypotheses etc... I have been freelancing in server and networks since I was 15.. in 2009 I have incorporated my own company (DeepSine) which went from mobile app studio to software consultancy.. and now my objective is to exit the service industry by launching products that can scale without me selling (my or my team's) time.

      1. 2

        Great progress. Best of luck, Steve!

        1. 1

          Thanks! I see we're kind of competitors, although you seem to be much further on the product roadmap judging from the offering on your gglot website. I am assuming you're branching out from translation? You are having a bigger and better social/public footprint. Kudos! You have a great advantage from the localisation space! Let me know if you're open to any collaboration.

          1. 1

            Yes, I would suggest to go with localization from day one. We developed which helps with foreign languages a lot. It certainly helped GGLOT to expand quickly in Spanish, Russian and other languages. The Google Ads are really cheap, no where that high than in USA or Canada. So, we've gained hundreds of sign ups from foreign customers using that alone.
            I don't think we are competitors of any kind even though we have something in common: transcription. We are mostly focused on SaaS and desktop applications, not mobile. You can see that $500 MRR is a drop in a bucket, comparing to other startups.

  6. 1

    Great to hear that you are expanding, guys!

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